Gabelli Says He Wouldn't Own Apple (AAPL)

Top investor Mario Gabelli of Gabelli Funds spoke with Bloomberg Television's Tom Keene today about his media investments. Gabelli said he wouldn't own shares of Apple AAPL, which rose above $300 for the first time today, even as one of his GAMCO Investors Inc. funds holds the maker of iPhones and iPads. Highlights of the conversation along with the video are included below, courtesy of Bloomberg. Mario Gabelli Video On Apple stock: “There are companies we will not buy that are momentum-oriented, and you'll never see that in our results [Keene: You wouldn't own Apple?] I wouldn't own Apple but we do own Apple in one of our funds.” On Cablevision: “We own it. We like the business model. We think speed is very important. 100 mega bytes today. Tom Rutledge runs a great shop. But they've made a lot of mistakes.” On Grupo Televisa: “This stock is a wonderful proxy. They have a wonderful content base. The telenovelas, the Marias of the past, they want to watch it in Brazil, which is in Portuguese, they want to watch it in China, and they are taking their product and exporting it around the world and that is very attractive. The deal they did with Univision is that they are going to wind up owning 30 % of the company, 40%, some number, and they're going to get 9% of the revenue stream of Univision which is about $2 billion dollars growing to 18% over the next 8 years and repurposing their content. Azcarraga does a great job there and we like the company.”